Welcome to our dedicated page for Tapestry news (Ticker: TPR), a resource for investors and traders seeking the latest updates and insights on Tapestry stock.
Tapestry, Inc. reports developments for a global accessories and lifestyle brand company built around Coach and kate spade new york. Recurring news includes quarterly earnings, full-year outlook updates, brand-level performance, regional sales trends, margin commentary, and customer growth across company-operated stores, digital channels, and wholesale partners.
Company updates also cover technology and operating initiatives, including the proprietary AI platform Mira, board and governance changes, corporate responsibility reporting, renewable electricity sourcing, leather supply-chain programs, and community solar partnerships tied to Tapestry's global retail and fulfillment footprint.
Tapestry, Inc. (NYSE: TPR) reported strong fiscal Q1 2021 results, with net sales of $1.17 billion, down 14% year-over-year, but significantly improved earnings per share (EPS) of $0.83 compared to $0.07 in the prior year. The company achieved a gross margin of 70.8%, up from 67.3%, while managing SG&A expenses down by 27%. Notably, e-commerce sales grew triple digits, and there was a 300 basis points increase in gross margins. The company ended the quarter with $1.5 billion in cash and positive free cash flow of $64 million, showcasing resilience amidst challenges.
Coach announced its 2020 holiday campaign titled "Holiday Is Where You Find It", featuring global icons Jennifer Lopez and Michael B. Jordan, along with ambassadors like Kiko Mizuhara and Jeremy Lin. The campaign promotes positivity and family traditions during challenging times, showcased through short vignettes celebrating diverse celebrations. Coach introduces new products like the Beat Shoulder Bag and Hitch backpack. The brand emphasizes modern luxury and quality craftsmanship, available in approximately 55 countries.
Tapestry, Inc. (NYSE: TPR) has appointed Joanne Crevoiserat as Chief Executive Officer, effective immediately. Having served as Interim CEO since July 2020, Crevoiserat also joined the company as Chief Financial Officer in August 2019. The Board believes she is the best fit to lead Tapestry's growth, emphasizing a data-driven and customer-centric strategy. Crevoiserat aims to enhance connections with customers and drive profitability through the Acceleration Program. Tapestry is known for its luxury brands, including Coach and Kate Spade.
Tapestry, Inc. (NYSE: TPR) announced a conference call scheduled for October 29, 2020, at 7:30 a.m. (ET) to discuss its first quarter results. The results will be released earlier that morning, and interested parties can listen in by dialing 1-877-510-8087 or via an audio webcast at www.tapestry.com/investors. A telephone replay will be available for five business days after the call. Tapestry includes brands such as Coach and Kate Spade, focusing on modern luxury lifestyle products.
Coach has launched the Coach x Jennifer Lopez Hutton bag, marking the global superstar's first collaboration with the brand. This exclusive bag features refined calf leather and genuine snakeskin, designed under the vision of Creative Director Stuart Vevers. The design emphasizes authenticity and versatility, aligning with both Coach and Lopez's values. The collaboration includes social-first film vignettes showcasing Lopez's multifaceted talents.
The bag symbolizes modern luxury, crafted for a dynamic lifestyle.
The Coach Foundation has formed partnerships with The Opportunity Network, Bottom Line, and Year Up under its Dream It Real initiative, aimed at empowering under-represented students. To celebrate these partnerships, a donation of $1 million was made, bringing total contributions to over $3.5 million. These organizations focus on improving equity in higher education by providing resources and mentorship, promoting inclusivity, and supporting students from low-income backgrounds.
Coach has launched its C001 Watch collection, featuring Quincy Brown as the global watch ambassador. Shot in New York by Alessandro Simonetti, the campaign promotes Coach's ethos of optimism and self-expression. The collection includes six styles designed for active lifestyles, incorporating both technology and fashion with unique features like world time analog-digital movement. Available exclusively at Coach.com, the launch supports Feeding America with a donation. Coach is part of Tapestry, listed on the NYSE under ticker TPR.
Coach has announced a partnership with More Than A Vote, an organization led by LeBron James focused on combating voter suppression. This collaboration aims to mobilize resources to protect voting rights, particularly in communities of color. Coach’s CEO, Jide Zeitlin, emphasized the need to ensure equal access to voting as a foundation of democracy. The brand’s involvement signifies a commitment to addressing racial inequality while enhancing educational opportunities for Black and Latinx youth.